China's $3tn local government debt burden is well known. The below charts from Moody's show where in China the most indebted governments are.
The ratings agency's charts show each province's level of government-related debt as a proportion of GDP. Moody's has also worked out which borrowers have most debt due for repayment within one year.
The data is pertinent given that a clutch of smaller, regional Chinese banks have recently joined the Hong Kong stock exchange. These include the Bank of Chongqing, whose home province has the second highest level of local government debt in China, according to Moody's. (The bank has stated total exposure to municipal financing vehicles of Rmb13.8bn, or 7 per cent of assets).
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